Ukraine to borrow $1bn for natural gas reserve

Ukraine Prime Minister Arseniy Yatsenyuk

Ukraine to borrow $1bn for natural gas reserve: Ukraine is planning to borrow $1bn to establish a strategic reserve of natural gas and fuel oil to cover local needs in emergency situations, Prime Minister Arseniy Yatsenyuk said on Saturday.”The government has adopted a decision to establish reserves of gas and fuel oil worth $1 billion via borrowing under state guarantees,” Yatsenyuk told a government meeting.”This $1 billion will be spent to buy this strategic reserve,” he added, giving no details about the origin of the gas , but it is  common knowledge that reducing the country’s dependence on Russia for its energy supplies has become a priority in the light of events in Crimea and Donetsk.